Can you use an IRA for a down payment?

Answer On One Hand: No Loans AllowedUnlike 401(k) plans, you cannot take a loan against the value of your IRA to use as a down payment on a home. The Internal Revenue Service also forbids using your IRA a... Read More »

Top Q&A For: Can you use an IRA for a down payment

What is the difference between down payment and under table payment ........?

In the US when we close on a house there is not a line item on the closing statement (HUD1) for the "down payment". Instead it just shows that you obtained X amount from your loan and owe so much ... Read More »

How does a down payment affect a car payment?

Many car dealerships require you to have a down payment when you are financing a car. A down payment decreases the chances that you will default on the loan. Having a down payment also affects the ... Read More »

How to Calculate a Down Payment for a Car?

Buying a new or used car can be confusing and frustrating if you don't do your research. Before you head out to the car lot, take the time to evaluate your finances so you'll know how much you can ... Read More »

How to Use a 401k for a Down Payment?

A 401k plan is a retirement savings vehicle created by companies on behalf of their employees. Typically, money cannot be withdrawn from the account until you reach age 59½ without paying an early... Read More »